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10 Tips for NRIs buying an apartment in India


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Why NRI’s wish to buy an apartment in India?

Buying an apartment in their home land always gives a sense of satisfaction.

NRI’s (Non Resident Indians) are those who stay out of India over a long period of time due to work. There are several reasons for an NRI to buy an apartment in India and they are below.

– For investment purposes

– For their family or parents

– For their future stay

Nowadays, the government and the banks offer lot of attractive schemes for NRI’s to buy a residential property thereby promoting the purchase.Many things have to be considered and finalized before buying the property.It is better to do all the groundwork regarding the property before coming to India so that time is not wasted.

1. Fix the Budget

Deciding the budget should be the first step in buying any property. If you are planning to get a housing loan, approximately calculate how much you can pay for the EMI every month taking in to account of all your household expenses.If you are planning to buy it fully using your own money,then decide how much you can afford keeping some money aside for emergency expenses.It is not advisable to put all your savings in buying the property.

2. Choose the desired Location

If the apartment is purely an investment and you are not going reside in that, then choose a location near IT parks,Colleges,Schools etc as you will be getting a good rent.

If you want to keep your family (wife and children) in the house,then choose a location near to the school where your children is going to study.

If you want to keep your parents in the house,then choose a location near to temples,park etc so that your parents can have relaxation in their life.

3. Decide the Basic Amenities

This is obviously a mandatory aspect for the NRI’s as they live in a very sophisticated environment outside India. Choose an apartment with basic amenities like swimming pool,fitness center or gym,children’s play area etc.

4. Schools located inside the community

Many apartments have popular schools inside the community itself.If you are planning to keep your children in the house, look for these kind of  apartments as it will be easier for the children to study.

5. Finding the right Builder

Choosing the right builder is very important in buying a apartment as a wrong one can lead to various problems. Find out the top 5 reputed builders in your city.Visit their websites and gather information about their previous constructions. Get feedback from the existing people about the quality of construction,water facilities,customer service etc.Some builders will take long time in resolving the problems faced by the tenants in the building.Avoid those kind of builders.

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6. Apartment type (On-going/Finished)

Decide whether you want to buy a completed apartment or an ongoing one.Unless you have some person in India who takes the responsibility for visiting the site,avoid buying the under construction property.

7. Access to Public Transportation

Make sure you have easy access to public transportation like bus or train near your apartment especially if your family is going to reside in that house.It is also a positive factor while giving for rent.

8. Avoid brokers

It is better to avoid buying the house through agents or brokers as they provide misleading information.Get information through your friends or relatives or directly from the builder.

9. Verify the Documents

This is very crucial in buying property. Make sure that the documents of the property are legal and does not have any litigations. Get all the documents listed below:

– Parent document

– Encumbrance certificate for the past 10 or 15 years.( This will list the details of the previous owners of the property and it can be generated online)

– Make sure that are no dues for the utilities like water,electricity etc.Get no dues certificate from the builder.

– Approval of the house plan by the local bodies of the government.

Get all the legal documents verified with the help of a lawyer. Also make sure that the apartment is built according to the plan and there are no deviations.

Get 100% assurance from the lawyer and other documents that you will be the sole owner of the property and you have the right to sell or do anything on that.

10. Choose the Bank with most benefits

If you are planning to take a housing loan,choose the bank with most benefits.The maximum loan tenure for NRI’s is 15 years. Also the interest rate for the NRI’s differs from others by 0.2 to 0.5%. Most banks provide loan for 80-85% of the apartment cost and it is decided by the country in which they reside and their salary.

It is  better to choose the bank which offers unlimited pre payment of the loan amount as some banks allow only 2 or 3 times for the principal repayment which is not beneficial to the buyer.

Ready,Steady and Go…


Hi, Mani Karthik here. Having lived in USA, India & Middle East, and worked for big MNC’s to startups, I have a lot to share with you. My aim is to help people, by sharing everything I’ve learned in life, through this blog. It’s read today by more than 150K people world over! I currently live in LA, California and visit India occasionally. Here’s my full story on who I am and why I blog. Connect with me on FBInstagram, Twitter or WhatsApp (+001-408-489-4785). Happy to help! 🙂

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